About MinhT1

MinhT1 · ‎July 15, 2020

If you receive a form 1099-MISC for a free stock, then you are not considered as self-employed and do not need to file a Schedule C. In TurboTax, enter your form 1099-MISC and follow the interview until you arrive at the page titled Did this involve an intent to earn money?. Answer that this did not involve an intent to earn money. The amount will be reported as Miscellaneous income and will not be subject to Self-employment tax. In TurboTax, there is a work-around. Although you may receive this income every year, say that you only receive the 1099-MISC only in 2019, not in previous years and not in 2020, you will then have the screen where you can say that it did not involve an intent to earn money.

MinhT1 · ‎July 15, 2020

@vroom If you receive a form 1099-MISC for a free stock, then you are not considered as self-employed and do not need to file a Schedule C. In TurboTax, enter your form 1099-MISC and follow the interview until you arrive at the page titled Did this involve an intent to earn money?. Answer that this did not involve an intent to earn money. The amount will be reported as Miscellaneous income and will not be subject to Self-employment tax. In TurboTax, there is a work-around. Although you may receive this income every year, say that you only receive the 1099-MISC only in 2019, not in previous years and not in 2020, you will then have the screen where you can say that it did not involve an intent to earn money.

MinhT1 · ‎July 15, 2020

Please follow the instructions in this TurboTax Help topic on How do I change from mail to e-file in TurboTax Online?

MinhT1 · ‎July 15, 2020

You can file for an extension free of charge here.

MinhT1 · ‎July 15, 2020

Please follow the instructions in this TurboTax Help topic.

MinhT1 · ‎July 15, 2020

No, unfortunately once you delete a Schedule C, it cannot be retrieved. All the information has to be reentered.

MinhT1 · ‎July 15, 2020

After enterung your form 1099-R, on the page Your 1099-R Enries, click on Contiunue and follow the TurboTax interview. On the question What did you do with the money? check that you rolled over the money (see screenshot).

MinhT1 · ‎July 15, 2020

If you filed your 2017 tax return using TurboTax Online, please follow the instructions in this TurboTax Help topic.

MinhT1 · ‎July 15, 2020

You enter the non-taxable amount under Notice 2014-7 as a negative number in Other Reportable Income and describe it as Non-taxable amount under Notice 2014-7. Click on Federal in the left-hand column, then on Wages and Income on top of the screen Scroll down to All Income, locate the Less Common Income section Click Show more and click Start next to Miscellaneous Income at the bottom On the next page, click Start next to Other Reportable Income.

MinhT1 · ‎July 15, 2020

All versions of TurboTax will be available for e-filing tax returns until at least October 15.

Date Registered	‎January 14, 2020 12:46 PM
Date Last Visited	‎July 22, 2020 12:43 PM
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